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| 214.19 USD | +3.65% |
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217.59 | +1.59% |
| 04:57pm | Joins Industry Coalition to Launch Open Source AI Cybersecurity Alliance | MT |
| 24/07 | Nvidia, Microsoft and other tech giants back open-source AI models | RE |
Projected Income Statement: IBM
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 57,350 | 60,530 | 61,860 | 62,753 | 67,535 | 70,347 | 73,401 | 77,403 |
| Change | - | 5.54% | 2.2% | 1.44% | 7.62% | 4.16% | 4.34% | 5.45% |
| EBITDA 1 | - | 14,739 | 15,447 | 16,400 | 19,200 | 20,226 | 21,606 | 22,773 |
| Change | - | - | 4.8% | 6.17% | 17.07% | 5.35% | 6.82% | 5.4% |
| EBIT 1 | - | 9,937 | 11,052 | 11,263 | 14,126 | 14,975 | 16,090 | 17,815 |
| Change | - | - | 11.22% | 1.91% | 25.42% | 6.01% | 7.45% | 10.72% |
| Interest Paid 1 | -1,155 | -1,216 | -1,607 | -1,712 | -1,935 | -1,898 | -1,975 | -2,036 |
| Earnings before Tax (EBT) 1 | 4,837 | 1,156 | 8,690 | 5,797 | 10,328 | 11,030 | 13,175 | 15,200 |
| Change | - | -76.1% | 651.73% | -33.29% | 78.16% | 6.8% | 19.44% | 15.37% |
| Net income 1 | 5,743 | 1,639 | 7,502 | 6,023 | 10,593 | 9,799 | 11,439 | 12,602 |
| Change | - | -71.46% | 357.72% | -19.71% | 75.88% | -7.49% | 16.74% | 10.16% |
| Announcement Date | 24/01/22 | 25/01/23 | 24/01/24 | 29/01/25 | 28/01/26 | - | - | - |
Forecast Balance Sheet: IBM
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 44,147 | 42,108 | 43,085 | 40,168 | 46,789 | 43,313 | 33,564 | 28,440 |
| Change | - | -4.62% | 2.32% | -6.77% | 16.48% | -7.43% | -22.51% | -15.27% |
| Announcement Date | 24/01/22 | 25/01/23 | 24/01/24 | 29/01/25 | 28/01/26 | - | - | - |
Cash Flow Forecast: IBM
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|---|
| CAPEX 1 | 2,381 | 1,860 | 1,488 | 1,127 | 1,617 | 1,556 | 1,687 | 1,733 |
| Change | - | -21.88% | -20% | -24.26% | 43.48% | -3.77% | 8.41% | 2.72% |
| Free Cash Flow (FCF) 1 | 6,508 | 9,291 | 11,210 | 12,749 | 14,734 | 15,562 | 16,994 | 17,786 |
| Change | - | 42.76% | 20.65% | 13.73% | 15.57% | 5.62% | 9.2% | 4.66% |
| Announcement Date | 24/01/22 | 25/01/23 | 24/01/24 | 29/01/25 | 28/01/26 | - | - | - |
Forecast Financial Ratios: IBM
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|---|
Profitability | ||||||||
| EBITDA Margin (%) | - | 24.35% | 24.97% | 26.13% | 28.43% | 28.75% | 29.44% | 29.42% |
| EBIT Margin (%) | - | 16.42% | 17.87% | 17.95% | 20.92% | 21.29% | 21.92% | 23.02% |
| EBT Margin (%) | 8.43% | 1.91% | 14.05% | 9.24% | 15.29% | 15.68% | 17.95% | 19.64% |
| Net margin (%) | 10.01% | 2.71% | 12.13% | 9.6% | 15.69% | 13.93% | 15.58% | 16.28% |
| FCF margin (%) | 11.35% | 15.35% | 18.12% | 20.32% | 21.82% | 22.12% | 23.15% | 22.98% |
| FCF / Net Income (%) | 113.32% | 566.87% | 149.43% | 211.67% | 139.09% | 158.81% | 148.56% | 141.14% |
Profitability | ||||||||
| ROA | 3.99% | 6.42% | 5.73% | 7.11% | 7.61% | 7.6% | 7.49% | 8.02% |
| ROE | 36.33% | 40.77% | 33.79% | 38.86% | 36.67% | 32.66% | 30.71% | 27.66% |
Financial Health | ||||||||
| Leverage (Debt/EBITDA) | - | 2.86x | 2.79x | 2.45x | 2.44x | 2.14x | 1.55x | 1.25x |
| Debt / Free cash flow | 6.78x | 4.53x | 3.84x | 3.15x | 3.18x | 2.78x | 1.97x | 1.6x |
Capital Intensity | ||||||||
| CAPEX / Current Assets (%) | 4.15% | 3.07% | 2.41% | 1.8% | 2.39% | 2.21% | 2.3% | 2.24% |
| CAPEX / EBITDA (%) | - | 12.62% | 9.63% | 6.87% | 8.42% | 7.69% | 7.81% | 7.61% |
| CAPEX / FCF (%) | 36.59% | 20.02% | 13.27% | 8.84% | 10.97% | 10% | 9.93% | 9.74% |
Items per share | ||||||||
| Cash flow per share 1 | 14.15 | 11.44 | 15.11 | 14.35 | 13.91 | 18.24 | 18 | 18.83 |
| Change | - | -19.14% | 32.08% | -5.04% | -3.06% | 31.14% | -1.32% | 4.63% |
| Dividend per Share 1 | 6.55 | 6.52 | 6.63 | 6.67 | 6.71 | 6.765 | 6.795 | 6.871 |
| Change | - | -0.46% | 1.69% | 0.6% | 0.6% | 0.82% | 0.43% | 1.12% |
| Book Value Per Share 1 | 21.09 | 24.31 | 24.63 | 29.48 | 34.84 | 40.87 | 47.46 | 55.15 |
| Change | - | 15.24% | 1.3% | 19.71% | 18.2% | 17.3% | 16.11% | 16.22% |
| EPS 1 | 6.35 | 1.8 | 8.14 | 6.43 | 11.17 | 10.12 | 11.36 | 12.78 |
| Change | - | -71.65% | 352.22% | -21.01% | 73.72% | -9.37% | 12.18% | 12.57% |
| Nbr of stocks (in thousands) | 8,96,800 | 9,04,126 | 9,13,119 | 9,24,645 | 9,34,735 | 9,42,134 | 9,42,134 | 9,42,134 |
| Announcement Date | 24/01/22 | 25/01/23 | 24/01/24 | 29/01/25 | 28/01/26 | - | - | - |
| 2026 * | 2027 * | |
|---|---|---|
| P/E | 21.2x | 18.9x |
| PBR | 5.24x | 4.51x |
| EV / Sales | 3.48x | 3.21x |
| Yield | 3.16% | 3.17% |
EPS & Dividend
Y-o-Y evolution of P/E
Year-on-year evolution of the Yield
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